Apple Inc. (AAPL.US) is close to becoming the first-ever company to close with a market value of $3 trillion, as its stock is rising more than 1.8% on Friday, achieving a market capitalization of $3.03 trillion. YTD return on Apple stocks hit 50%, adding more than $940 billion to the company’s size. This milestone indicates the dominance of big tech companies.
Wall Street remains optimistic towards Apple stock as Citi started covering Apple with a buy rating, indicating a potential 30% additional upside, taking Apple near a $4 trillion valuation. Yet, the company's stock has exceeded the average analysts' price target suggesting limited anticipated gains at the current levels. Despite the impressive performance, concerns regarding Apple's valuation persist. It trades at 30 times its estimated earnings for the next 12 months, which is a premium to its long-term average multiple and also to the Nasdaq 100 Index.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app
Apple's stock price (AAPL.US) has shown strength and positive momentum, with the current price of $192 marking a 1.76% increase for the day. The stock has surpassed its previous all-time high of $182, indicating potential upward movement and a break into new price territory. Supported by a blue line on the chart, the stock remains in a strong bullish trend, suggesting ongoing positive sentiment and demand among investors.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
